| Global sovereign wealth funds are waiting to pounce on bargains instead of paring stakes in the U.K. following the Brexit vote, a senior industry expert said. "Sovereign wealth funds are patient capital. They have a long term investment horizon," Michael Maduell, president of the Sovereign Wealth Fund Institute, said.
"When everyone is freaking out about the pound sterling going to a 31-year low, wealth funds can come in and tactically purchase assets and tactically place bids on companies." In the wake of the U.K.'s referendum vote to exit the European Union (EU), the pound has plunged to its lowest levels since 1985 and a leadership vacuum has emerged in the wake of the resignation of Prime Minister David Cameron...............................................Full Article: Source
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